Jun 19 2018

Trade Idea for the day

EURUSD: – Euro having recovered after a sharp fall is likely to take resistance around current levels, currently above 14 day SMA on hourly charts. Momentum indicators like RSI at 59 is indicating to sell with MACD above zero line giving sell signals.

Our Preference: – Sell Above 1.1640

Target – 1.1600-1.1610

Stop loss – 1.1653

GBPUSD: – Pair is trading in a narrow range on hourly charts likely to take support around the blue line. Momentum indicators are neutral with RSI at 49 and MACD around zero.

Preference: – Buy below 1.3250

Target – 1.3270-1.3280

Stop loss – 1.3237

USDJPY: – Risk off sentiment resulted in sharp gain on hourly charts in safe heaven yen, likely to head towards 110 mark again. Technical indicators like RSI at 24 and MACD below zero line giving sell signals.

Our Preference: – Buy below 109.60

Target – 109.90-110.00

Stop loss – 109.45